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Aquafeed Additives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The Global Aquafeed Additives Market segmented based on Species Type- ( Fish, Mollusks, Crustaceans, and others), Additives Type- (Vitamins, Minerals, Antioxidants, Amino Acids, Enzymes, Acidifiers, Binders, and others) and Geography

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Market Snapshot

Aquafeed Additives Market Summary
Study Period: 2016 - 2026
Base Year: 2021
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 7.9 %

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Market Overview

The Global Aquafeed Additives Market is estimated to register a CAGR of 7.9% during the forecast period (2020-2025). Aquafeed additives are rich sources of proteins and omega 3 fatty acids. These additives are added to aquafeed to enhance the feed quality and prevent infections in fish caused by parasites. Controlling parasites during fish farming is highly important as it can lead to economic losses. These additives provide benefits such as healthy growth, improved immunity system, enhance feed conversion, and reduce the mortality rate of aquafeed. Thus increasing awareness among the manufacturers regarding the additives will boost up the market. For instance, Aquafeed additives such as palatants and feed acidifiers, in several cultivar species such as carp, tilapia, salmon and catfish, especially in emerging economies, are witnessing huge demand. This will add a complementary growth during the forecast period.

Scope of the Report

The report covers the extensive study of segments and factors driving the growth of the commercial global aquafeed additive market. An in-depth analysis of the futures markets and trends is exclusively measured in this report. Factors driving region-wise analysis are also covered with great observations. The report provides an in-depth analysis of the various parameters of the aquafeed additive market. The aquafeed additive market has been segmented based on species and additives. 

By Species Type
Fish
Mollusks
Crustaceans
Others
By Additives
Vitamins
Minerals
Antioxidants
Amino Acids
Enzymes
Acidifiers
Others
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Spain
Rest of Europe
Asia Pacific
India
China
Japan
Rest of the Asia-Pacific
South America
Brazil
Argentina
Rest of South America

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Key Market Trends

Increase in Fish Consumption

According to the Food and Agriculture Organization of the United Nations ( FAO), in per capita terms, global food fish consumption grew from 9 Kg in 1961 to 20.2 Kg in 2015, representing an average expansion rate of 1.5 percent per annum. In 2016 and 2017, the consumption rate was 20.3 Kg and 20.5 Kg respectively. The dramatic rise and emergence of aquaculture in the global market place, coupled with the increased nutritional awareness among consumers, spurred the sales of compound feed and feed additives globally. For instance, fish consumption in Asian countries, particularly eastern and southeastern Asia, has been driven by a combination of large, growing and increasing urban population, dramatic expansion of fish production, rising international fish trade and increasing disposable income will drive the aquafeed additive market during the forecast period.

aquafeed additive market1

North America Dominates the Market

North America dominates the aquafeed additive market as the production is projected to increase with increase in seafood consumption in countries like Canada and The U.S. Increase consumption of species such as salmonids and mollusks are majorly contributing to the growth. North America serves both International as well as domestic markets. Demand for aquafeed additives in Europe market increasing over the past decades majorly focusing on the region like Ireland, Denmark, and Norway. The Asia Pacific will witness a higher growth rate in the upcoming decades. Cheap labor, abundance availability of resources, owing to favorable climatic conditions and increase awareness of the nutrition associated with additives will gear up the market during the forecast period.

aquafeed additive market2

Competitive Landscape

The aquafeed additive industry is a fragmented market, with the top 5-6 companies accounting for almost 40% of the market share. These companies are targeting countries in most parts of the world for business expansion, either by investing in new production units or acquiring established small players in specific regions. The investment in R&D activities to introduce new and efficient products is another strategy adopted by manufacturers to stay ahead of their competition in the matured markets of North America and Europe.

Aquafeed Additive Market Concentration.png

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Species Type

      1. 5.1.1 Fish

      2. 5.1.2 Mollusks

      3. 5.1.3 Crustaceans

      4. 5.1.4 Others

    2. 5.2 By Additives

      1. 5.2.1 Vitamins

      2. 5.2.2 Minerals

      3. 5.2.3 Antioxidants

      4. 5.2.4 Amino Acids

      5. 5.2.5 Enzymes

      6. 5.2.6 Acidifiers

      7. 5.2.7 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Spain

        6. 5.3.2.6 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Japan

        4. 5.3.3.4 Rest of the Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Most Adopted Strategies

    3. 6.3 Company Profiles

      1. 6.3.1 Thai Union Group

      2. 6.3.2 Inve Aquaculture Inc.

      3. 6.3.3 Growel Feeds Pvt Ltd

      4. 6.3.4 BASF

      5. 6.3.5 South East Asia Pte Ltd

      6. 6.3.6 Adisseo Asia Pacific Lte

      7. 6.3.7 CP Group

      8. 6.3.8 Cargill incorporated

      9. 6.3.9 Nutreco N.V

      10. 6.3.10 Archer Daniels Midland Company (US)

  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Frequently Asked Questions

The Aquafeed Additives Market market is studied from 2016 - 2026.

The Aquafeed Additives Market is growing at a CAGR of 7.9% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Thai Union, Inve Aquaculture, Growel Feeds Pvt Ltd, BASF, Cargill are the major companies operating in Aquafeed Additives Market.

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